155 replies to this topic

[senorBS]

no more divergences, back to the drawing board
dharma

Dharma, there may be no divergences between gold and gold stocks anymore but most of the technicals I follow all diverged AGAIN at yet another higher low AND both Plat and Silver are well off their respective decline lows. I may be dead wrong here but I really like the contracting tri count I have outlined for a few days now and this "expected" thrust down. Now any count can be wrong but I really like the chances for a spike/thrust low here and I put "some" of my money where my big mouth is. We will see

 

Senor

[dharma]

no more divergences, back to the drawing board
dharma

Dharma, there may be no divergences between gold and gold stocks anymore but most of the technicals I follow all diverged AGAIN at yet another higher low AND both Plat and Silver are well off their respective decline lows. I may be dead wrong here but I really like the contracting tri count I have outlined for a few days now and this "expected" thrust down. Now any count can be wrong but I really like the chances for a spike/thrust low here and I put "some" of my money where my big mouth is. We will see
 
Senor

yes, i see that too. could be a bear trap!? 1136 is support ,and 1123 is the death zone. i have a fairly big cycle due to bottom this week . we shall see.
dhamma

[Smithy]

Dharma, you might want to allow for C = A x 1.618 at 1125. (spot)

[senorBS]

been buyin the early gold stock weakness, now about 20% long, as always DYODD

 

Senor

[lotus2t]

been buyin the early gold stock weakness, now about 20% long, as always DYODD

 

Senor

A bounce then another drop to lower low I think. gdx resistance will be the lower bb.

[senorBS]

GDX/GDXj about 11% declines in 3-4 hr of trading, either washout/capitulation lows comin or we goin a lot lower. I did some buys now I watch closely

 

NO BS

 

Senor

[dharma]

last year the next day after the rate hike gold bottomed
this year you have a gold market in disarray. the indians are out of the market. modi did away w/their large bills. and i am
reading that indians are now buying jewelry w/electronic money. so sales are back to 1/2 of what they were.
chinese new years on deck. and its unknown if the chinese govt is going to allow gold sales to citizens.
while the market is way oversold. caution is advised here. countries sell fiat to their citizens. the relic is having its luster
taken off . i said back when trump was elected the situation reminded me of 13 . and that is where it appears we sit. long term
these problems are going to assert themselves over the short term the next couple of months it could be treacherous.
dharma

[senorBS]

last year the next day after the rate hike gold bottomed
this year you have a gold market in disarray. the indians are out of the market. modi did away w/their large bills. and i am
reading that indians are now buying jewelry w/electronic money. so sales are back to 1/2 of what they were.
chinese new years on deck. and its unknown if the chinese govt is going to allow gold sales to citizens.
while the market is way oversold. caution is advised here. countries sell fiat to their citizens. the relic is having its luster
taken off . i said back when trump was elected the situation reminded me of 13 . and that is where it appears we sit. long term
these problems are going to assert themselves over the short term the next couple of months it could be treacherous.
dharma

thx for reminding me that gold bottomed the day after the Fed raise last Dec, the "set up" is there IMO for it to happen again, whether it will or not we may soon find out. I like the gold/gold stock rally off the low to this point, we'll see how things close

 

Senor

[dharma]

yes, indeed
folks this is capitulation liguqidation
the question in my mind is .................. is it enough
we have been in correction mode since the july highs this is what happens at the end of a move.
is it enough!?
dharma

[wxman]

We are still in the zone of the eight year bottom cycle:

[]http://stockcharts.c...22816&cmd=print

Edited by wxman, 15 December 2016 - 04:14 PM.